InterDigital Inc (IDCC)

[olddog967]

Gamco: The clause you site is one of several that allows conversion of the notes prior to the period at the expiration date. It almost became applicable during the current quarter based on closing prices during the 1st qtr 2017, but fell short.

According to the 1st qtr 10-Q (below), the required 20 day closing prices over a 30 day consecutive period was approximately $94.08. During the 1st qtr when the stock shot up the only time when the closing price was more than $94.08 was during the period from 2/3 - 2-22, when the closing price exceeded $94.08 for 12 trading days.

http://www.nasdaq.com/symbol/idcc/historical

From 1st qtr 10-Q

"Prior to 5:00 p.m., New York City time, on the business day immediately preceding December 1, 2019, the 2020 Notes will be convertible only under certain circumstances as set forth in the indenture to the 2020 Notes, including on any date during any calendar quarter (and only during such calendar quarter) if the closing sale price of our common stock was more than 130% of the applicable conversion price (approximately $94.08 based on the current conversion price) on each applicable trading day for at least 20 trading days in the period of the 30 consecutive trading days ending on the last trading day of the immediately preceding calendar quarter."